Gorman-Rupp (NYSE:GRC) Rating Lowered to Hold at Zacks Research

Gorman-Rupp (NYSE:GRC) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

GRC has been the topic of several other research reports. Freedom Capital upgraded Gorman-Rupp to a “hold” rating in a report on Monday, May 18th. Wall Street Zen upgraded shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings cut shares of Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, June 12th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Gorman-Rupp presently has a consensus rating of “Hold”.

Gorman-Rupp Stock Performance

Shares of Gorman-Rupp stock opened at $86.13 on Tuesday. Gorman-Rupp has a one year low of $36.16 and a one year high of $89.62. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 38.62, a PEG ratio of 2.56 and a beta of 1.31. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.76 and a current ratio of 2.93. The business’s 50 day moving average price is $76.62 and its 200 day moving average price is $64.28.

Gorman-Rupp (NYSE:GRC) last released its quarterly earnings data on Thursday, April 23rd. The industrial products company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.19. The company had revenue of $176.59 million for the quarter, compared to analyst estimates of $170.61 million. Gorman-Rupp had a return on equity of 15.08% and a net margin of 8.45%. On average, research analysts predict that Gorman-Rupp will post 2.6 EPS for the current year.

Institutional Investors Weigh In On Gorman-Rupp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its holdings in shares of Gorman-Rupp by 9.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 281,709 shares of the industrial products company’s stock worth $9,888,000 after purchasing an additional 25,033 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Gorman-Rupp by 13.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 64,912 shares of the industrial products company’s stock valued at $2,278,000 after buying an additional 7,667 shares during the period. Jane Street Group LLC lifted its position in Gorman-Rupp by 203.0% in the first quarter. Jane Street Group LLC now owns 48,499 shares of the industrial products company’s stock valued at $1,702,000 after buying an additional 32,494 shares during the last quarter. Rhumbline Advisers lifted its position in Gorman-Rupp by 17.4% in the second quarter. Rhumbline Advisers now owns 36,865 shares of the industrial products company’s stock valued at $1,354,000 after buying an additional 5,462 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Gorman-Rupp by 8.6% in the second quarter. American Century Companies Inc. now owns 50,760 shares of the industrial products company’s stock valued at $1,864,000 after buying an additional 4,020 shares during the last quarter. Hedge funds and other institutional investors own 59.26% of the company’s stock.

Gorman-Rupp Company Profile

Gorman-Rupp Company is a U.S.-based manufacturer specializing in the design, production and distribution of pumps and pumping systems. Its product lineup includes centrifugal self-priming pumps, submersible pumps, vacuum priming pumps and engineered pumps for applications such as water and wastewater management, sewage handling, dewatering, industrial processing and agricultural irrigation. The company supports both standard pump requirements and custom engineered solutions for original equipment manufacturers (OEMs) and municipal clients.

Headquartered in Mansfield, Ohio, Gorman-Rupp has built a reputation for rugged, reliable equipment and aftermarket support services.